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Vol 11. No.165

Landsburys Independent Accreditation Reports

Economic Overview

	Current	+/-	Movement
$AUS/$US	89.79	-0.09
Cash Rate	4.50	Steady
90 Day Bill	4.76	+0.04
10 Year Bond	4.845	+0.040
ASX 200	4452.7	+82.6

NSW Property

Industrial Park Approved on the NSW Central Coast (AFR Pg.48)

• The NSW State Government has approved Terrace Tower Group’s $276 million Warner Industrial Park at Wyong which is situated within the Wyong Employment Zone.
• Proposed for the 104 ha site are 90 lots designed for warehousing, distribution centres, transport depots and manufacturing.
• Terrace Tower plans to start work on subdivision, landscaping and infrastructure works as soon as possible, however, site specific approvals will be needed for each new project within the park.
• Under the terms of the approval Terrace Tower will pay an infrastructure contribution to Wyong Council of $3.8 million.

Wetherill Park industrial sale (AFR Pg.50)

• A office/warehouse at 43 Newton Road, Wetherill Park has sold at auction to a Western Australia based investor for $12.75 million ($1,169/m²) on a yield of 9.75%.
• The property comprises a lettable area of 10,909m² (21% office), 11 loading docks and 160 car parking spaces.
• Thorn Lighting leases the facility until 2017 with 3% rent reviews.

Sydney industrial update (AFR Pg.53)

• The Sydney industrial market is set to benefit from manufacturing output and renewed optimism from owner occupiers.
• In the south west rents have remained relatively stable between $95/m² to $110/m² for prime grade stock, whilst incentives have tightened to around 9%.

Former Marrickville RSL site approval (AFR Pg.55)

• Abadeen Group has gained approval for a $100 million apartment project on the former Marrickville RSL site.
• The project will be called Revolution and will comprise 180 apartments of 1, 2 and 3 bedroom configurations.
• Most of the apartment will be priced between $399,000 and $600,000. The 3 bedroom apartments are priced from $700,000.

Queensland Property Market

Gold Coast development update (AFR Pg.52)

• New developments which are planned to commence on the Gold Coast over the next 90 days include Barry Morris’ $90 million Eclipse development at Broadbeach and brothers Pedro and Michael Pikos’ Pure development at Kirra Beach.

Brisbane industrial update (AFR Pg.52)

• Securing finance for development remains a major concern for industrial development in Brisbane. However, recent demand has strengthened the market for investment property over $5 million.
• Leasing activity remains subdued, however, agents are optimistic that the $2.12 million Gateway Upgrade Project will improve the industrial forecast for the Australian Trade Coast Precinct of Brisbane.